The Australian Competition and Consumer Commission (ACCC) has said it has no objection to the proposed purchase of the Theo’s Liquor New South Wales drinks store chain by the Coles Myer retail group.
Coles Myer is planning to buy 49 stores and four hotels from Theo’s Liquor through its Liquorland Pty Ltd retail subsidiary.
The ACCC’s investigation concluded that the removal of the Theo’s Liquor stores as an independent player in the market would not be likely to lead to a significant reduction in competition in either the wholesale or retail liquor markets.
After the acquisition goes through, Coles Myer and rival retail group, Woolworths, will have a combined 30% share of the alcoholic drinks market in New South Wales.
